In recent years, blockchain has become one of the more popular buzzwords in technology. The rise of Bitcoin drove awareness of the power of blockchain to disrupt markets and enable decentralized systems of trust.
In the data world, blockchain acts as a decentralized ledger. The “usage” of data is then recorded on this ledger, and there is forever a record of how data is used that cannot be altered and is not controlled by any single party. This enables data sellers to feel more comfortable with publishing data, because they can be confident that the usage of the data they provide is within the confines of how the data is supposed to be used. As the use of data continues to grow, the trust required that data will be used appropriately is a growing challenge — for privacy, security, intellectual property, and other reasons. But blockchain-powered data marketplaces start to solve for that trust issue by providing a single, auditable ledger that data sellers can use to verify and protect the use of their data downstream,
In the latest in our series on data marketplaces, here are four data marketplaces that leverage blockchain:
Datapace is a data marketplace built on blockchain and smart contracts for data buyers and sellers. On Datapace, you can stream data from any type of source, ranging from IoTdevices, cars, drones, and more. Their initial partners are Nokia, Hyperledger, NKN, and Mainflux.
ArcBlock is a platform for developers to easily build production apps. Their decentralized marketplace for data monetization enables anyone to share any time of data using smart contracts with verification and access to ensure proper usage. An example use case they discuss is their partnership with DIDBANK, which provides users more autonomy over their own data.
Datum is a blockchain-powered data storage and monetization solution. They have open APIs that make it easy for any product manager, developer, or individual to work with data, providing benefits to each party in the ecosystem. Their initial partners include the Decentralized Identity Foundation, Sovrin, and the Enterprise Ethereum Alliance.
The IOTA data marketplace powers the secure selling, sharing, and access to data streams. Its run by the IOTA Foundation, which is an ecosystem of leading companies building out a blockchain-powered network for sharing information and improving the world across mobility, supply chains, IoT, healthcare, and energy.
While blockchain is a fascinating and sometimes mind-bending technology, the use of the above data marketplaces can be very straightforward for an average developer. We expect more marketplaces to emerge in this area, and we expect the volume of available data to continue to grow — leading to better business decisions worldwide.
4 fast growing logistics data marketplaces